Tackling Credit Card Debt

With credit card debt reaching an all-time high of $930 billion, CBS News business analyst Jill Schlesinger discusses solutions to paying down debt. She shares common mistakes consumers make with CBS News correspondent Mola Lenghi. Schlesinger explains when a person should get their first credit card, why you should monitor your credit report and the meaning behind your FICO score. She says it's important to track your money and keep a budget in order to pay down your credit card debt. Plus, she explains the effect the debt is having on the overall economy and whether it's better to have "good debt" or no debt. NOTE: This podcast was recorded on March 5, 2020.